Prime Minister Shehbaz Says IMF Could Issue $2 Billion Loan To Pakistan

PM Shehbaz Sharif said that Finance Minister Miftah Ismail informed him that Pakistan could be receiving $2 billion from the IMF.

While addressing the Turnaround Pakistan conference organized by the Planning and Development Ministry the prime minister stated that in the morning Miftah Ismail send a message saying that we are hopeful that Pakistan would be receiving $2bn instead of $1bn from IMF. And I replied that our goal is achieving self-reliance.

The premier emphasizes the need for all sections of the country to work together for its progress as well as for self-reliance. He further stated that self-reliance guarantees the economic and political independence of the country.

The prime minister commented after the announcement by Finance Minister Miftah Ismail that Pakistan had received both financial and economic targets for the seventh and eighth reviews of the IMF bailout program.

Mentioning the recent mega-development project opening in Bangladesh, the premier stated that his counterpart had announced with pride that they had made this achievement without the support of international donors. 

The prime minister further stated that surely it is a big achievement, adding that Pakistan also does not lack expertise or resources.

PM Shehbaz gave the example of Reko Dig and said billions had been wasted by Pakistan but yet not earn anything from this project. Premier stated that the liabilities of the country far outweighed its assets which is drowning it under debts.

Premier regretted that Haveli Bahadur Shah's 1,200-megawatt power plant had still not been completed which was set up by the previous PML-N government.

The prime minister stated that we suffered a colossal loss if you look at the electricity which we were supposed to have to run our industries, and agriculture sector and generate employment opportunities for millions.

While his address the prime minister stated that after 75 years of independence still, Pakistan had nothing to show. He also said that you would achieve nothing by crying over spilled milk.

The prime minister further stated that there was a danger of a serious shortage of edible oil in the country a few weeks ago. He wrote to the President of Indonesia Joko Widodo and also spoke to him regarding it on the phone.

He further said that the President of Indonesia replied that he would issue the instructions. He also added that he instructed a minister to visit the country where he stayed until the shipments departed for Pakistan. It is an example of countless doors open when you are willing to work.

The premier called for rising above personal differences and interests as Pakistan was facing so many issues. Current governments accuse previous governments. We need to work day and night to change the fate of our country, otherwise, we keep moving in circles, he added.

The finance minister told in his speech that our government will be bringing furniture businesses, builders, car dealers, real estate agents, and carpenters into the tax net. He further stated that Pakistan would only become self-reliant if everyone including the wealthy paid the taxes.